Funding you earn now, next payment 07:00 UTC+0.0208%/8h= +22.7% APRpaid last 24h +0.075%
Price spread now: Phoenix against KuCoin−0.041%48s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Funding pays, the price is against you. Phoenix is 0.041% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.041% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 16 hours of funding at the current rate (+$6 a day). The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin IRENUSDTM | 46.880 | 0.0100 | pay 0.0100% / 8h | 32m 42s | $737K | $264K | 20x |
| Short | Phoenix IREN | 46.861 | 0.0308 | get 0.0038% / 1h | 32m 42s | $83 | $31K | 10x |
KuCoin IRENUSDTM
Phoenix IRENFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against KuCoin. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $43.61
- Price spread: −0.041% → 0.000%
- −$4.05
- Slippage, 4 orders
- no order book: not counted
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $20.56
- Costs to cover
- 0.190%
- Break-even
- 3.7 days
Slippage unknown: KuCoin: live order book, 32 min ago; Phoenix: no order-book sample. Net counts fees only.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy KuCoin live order book, 32 min ago | 7.48 bp | 37.8 bp −$38 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phoenix no order-book sample | — | — | — | — | — |
Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
IREN on 18 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget IRENUSDT | −0.0231% | 8h | 46.825 | −0.117% | $2.1M | $538K | 20x | as long as short |
| Vest IREN-USD-PERP | −0.0001% | 1h | 46.750 | −0.277% | — | $15K | 10x | as long as short |
| Aster IRENUSDT | 0.0000% | 8h | 46.892 | +0.025% | $24K | $9K | 20x | as long as short |
| Binance IRENUSDT | 0.0000% | 8h | 46.877 | −0.006% | $3.5M | $6.2M | 25x | as long as short |
| Bybit IRENUSDT | 0.0000% | 8h | 46.830 | −0.107% | $1.2M | $552K | 25x | as long as short |
| OKX IREN-USDT-SWAP | 0.0000% | 8h | 46.870 | −0.021% | $626K | $689K | 25x | as long as short |
| Gate IREN_USDT | 0.0000% | 8h | 46.890 | +0.021% | $753K | $1.2M | 25x | as long as short |
| Variational Omni IREN | 0.0000% | 8h | 46.861 | −0.041% | $191K | $92K | — | as long as short |
| GRVT IREN_USDT_Perp | 0.0000% | 8h | 46.885 | +0.012% | $5K | $219K | 10x | as long as short |
| SunX IREN-USDT | 0.0000% | 8h | 46.860 | −0.043% | $1K | $334K | 10x | as long as short |
Bitget IRENUSDT
Vest IREN-USD-PERP
Aster IRENUSDT
Binance IRENUSDT
Bybit IRENUSDT
OKX IREN-USDT-SWAP
Gate IREN_USDT
Variational Omni IREN
GRVT IREN_USDT_Perp
SunX IREN-USDTShow all 18 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX IREN-USDT | 0.0000% | 8h | 46.840 | −0.085% | $9K | $877 | 20x | as long as short |
| Extended IREN_24_5-USD | +0.0040% | 1h | 46.815 | −0.139% | $4K | $7K | 5x | as long as short |
| QFEX IREN-USD | +0.0043% | 1h | 46.850 | −0.064% | $1.2M | $1.5M | 10x | as long as short |
| Paragon para:IREN | +0.0060% | 1h | 46.809 | −0.152% | $602K | $177K | 10x | as long as short |
| Lighter RH IREN | +0.0088% | 1h | 46.889 | +0.019% | $70K | $97K | 10x | as long as short |
| KuCoin IRENUSDTMlong | +0.0100% | 8h | 46.880 | long leg | $737K | $264K | 20x | |
| tradeXYZ xyz:IREN | +0.0154% | 1h | 46.843 | −0.079% | $3.1M | $2.0M | 10x | as long as short |
| Phoenix IRENshort | +0.0308% | 1h | 46.861 | −0.041% | $83 | $31K | 10x |
HTX IREN-USDT
Extended IREN_24_5-USD
QFEX IREN-USD
Paragon para:IREN
Lighter RH IREN
tradeXYZ xyz:IREN